CIMB: Long Term Reversal with Supported Year-Line
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Strategy: Moving Averages Formation
Bias: Bullish
As seen in the chart, the Year-Line is a strong indicator of trend. Around late Feb 2019, The price managed to closed above the Year-Line for a few days before rejecting and continued downward sliding. This time, not only is the price holding comfortably above the Year-Line, it also found support when it tested the Year-Line with a doji candle on the 4th Dec.
Entry: 5.30
Stop-loss: 5.19
1st Target: 5.61
2nd Target: 5.77
Gentle reminder: Plan your trade and trade your plan. Peace out!
Strategy: Moving Averages Formation
Bias: Bullish
As seen in the chart, the Year-Line is a strong indicator of trend. Around late Feb 2019, The price managed to closed above the Year-Line for a few days before rejecting and continued downward sliding. This time, not only is the price holding comfortably above the Year-Line, it also found support when it tested the Year-Line with a doji candle on the 4th Dec.
Entry: 5.30
Stop-loss: 5.19
1st Target: 5.61
2nd Target: 5.77
Gentle reminder: Plan your trade and trade your plan. Peace out!
Trade closed: stop reached:
Triggered stop-loss of 5.19.
Always remember to take care of your downside before even thinking about the upside, peace out~
Always remember to take care of your downside before even thinking about the upside, peace out~